Trading University Daily

 While the week is not over yet, resistance at the intersection of the 4-year bear trendline for USDJPY at approximately 85.50 – 86.00 has finally slowed the pair, leaving it 50 pips from yesterday’s high at 85.50. USDJPY has vaulted nearly 900 pips the previous 3-weeks in what will likely be seen as one of [...]

AUDUSD continues to steam higher today ahead of this evening’s Australian Employment Change.   The Aussie has benefited greatly from both high interest rates relative to the rest of the G-7 countries, and from the low interest rate policies of those same partners. With little to point to other then the possibility of a slow-down for China [...]

The Euro, similar, yet on a smaller scale to the Yen, could see a price blow up should resistance not materialize at the 143.00 handle – see chart. The reason behind the *soda-pop rally, similar to last month’s yen bubble,  would be because shorts are trapped, and longs don’t want to sell to them, yet. Trading [...]

After a shallow correction yesterday, USDJPY challenged last Friday’s high at approx 84.75 this morning on rumors of institutional buying out of London. USDJPY found support at the confluence of its daily central pivot and the 50% retracement level of the previous sessions range during the London session, before jumping higher just ahead of the opening [...]

Long USDJPY has been such a dangerous trade for sovereign funds and institutional traders these past couple of years that it’s been nicknamed the “widow-maker” by players who know. Now however it’s looking more and more like the great bear has finally run its course following last week’s 6-month high. From a technical perspective the [...]

Trading from a thesis can be a great advantage, if it is correct. All traders have a thesis whether they know it or now. While they may not have articulated it, they have an internal believe system which has a powerful affect on how they trade. My own overriding thesis is identify a predominantly bullish (or [...]